Allspring Global Investments Holdings LLC Increases Stock Position in Ziff Davis, Inc. (NASDAQ:ZD)

Allspring Global Investments Holdings LLC grew its stake in shares of Ziff Davis, Inc. (NASDAQ:ZDGet Rating) by 22.7% during the third quarter, HoldingsChannel.com reports. The fund owned 121,647 shares of the technology company’s stock after buying an additional 22,467 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ziff Davis were worth $8,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ZD. Zions Bancorporation N.A. purchased a new stake in shares of Ziff Davis during the 1st quarter valued at about $25,000. Ronald Blue Trust Inc. purchased a new position in shares of Ziff Davis in the second quarter worth approximately $30,000. New Millennium Group LLC purchased a new position in shares of Ziff Davis in the second quarter worth approximately $57,000. Harbor Investment Advisory LLC boosted its holdings in shares of Ziff Davis by 21.1% in the second quarter. Harbor Investment Advisory LLC now owns 879 shares of the technology company’s stock worth $66,000 after buying an additional 153 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Ziff Davis in the second quarter worth approximately $78,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Ziff Davis Trading Down 1.2 %

Ziff Davis stock opened at $84.03 on Friday. The stock has a market cap of $3.97 billion, a P/E ratio of 11.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.34 and a quick ratio of 2.34. Ziff Davis, Inc. has a 1 year low of $66.85 and a 1 year high of $110.87. The firm’s 50 day moving average price is $84.17 and its 200-day moving average price is $79.67.

Ziff Davis (NASDAQ:ZDGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The technology company reported $1.46 earnings per share for the quarter, hitting the consensus estimate of $1.46. Ziff Davis had a net margin of 25.32% and a return on equity of 15.60%. The company had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $348.88 million. On average, equities analysts predict that Ziff Davis, Inc. will post 6.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeremy Rossen sold 2,199 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $85.68, for a total value of $188,410.32. Following the sale, the executive vice president now owns 5,898 shares in the company, valued at $505,340.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TheStreet raised shares of Ziff Davis from a “c+” rating to a “b-” rating in a report on Tuesday, November 29th. Evercore ISI started coverage on shares of Ziff Davis in a report on Tuesday, September 20th. They set an “outperform” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of Ziff Davis from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $115.00 to $85.00 in a report on Tuesday, December 20th. Citigroup started coverage on shares of Ziff Davis in a report on Tuesday, December 13th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Robert W. Baird lowered their price target on shares of Ziff Davis from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, November 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ziff Davis currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.80.

Ziff Davis Company Profile

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Ziff Davis, Inc, together with its subsidiaries, provides internet information and services in the United States, Canada, Ireland, and internationally. It operates in two segments, Digital Media, and Cybersecurity and Martech. The Digital Media segment operates a portfolio of web properties and apps, which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter, and What to Expect, among others in the technology, shopping, entertainment, and health and wellness markets.

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Institutional Ownership by Quarter for Ziff Davis (NASDAQ:ZD)

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